Of the following countries, which has the highest level of inequality with respect to disposable income?
A. Chile
B. Spain
C. Germany
D. Norway
Answer: A
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Indicate whether the statement is true or false
High prices redistribute wealth from consumers to firms
a. True b. False Indicate whether the statement is true or false
Maximum Feasible Hourly Production Rates of EitherCuckoo Clocks or Movies Using All Available ResourcesProductUnited StatesSwitzerlandCuckoo Clocks42Movies104Based on the data in the above table, then if opportunity costs are constant, the opportunity cost of producing movies in the United States is ________, and the opportunity cost of producing movies in Switzerland is ________.
A. 2.5 cuckoo clocks; 2 cuckoo clocks B. 2.5 movies; 0.4 cuckoo clocks C. 0.4 cuckoo clocks; 0.5 cuckoo clocks D. 2 movies; 2 cuckoo clocks
In their surveys of consumers, Daniel Kahneman, Jack Knetsch and Richard Thaler found that
A) most people considered it unfair for firms to raise their prices because of an increase in their costs, but fair to raise their prices after an increase in demand. B) most people considered any increase in price to be unfair as it led to an increase in profits. C) most people believed that low-income people were hurt most by increases in prices. D) most people considered an increase in price by firms following an increase in their costs to be fair but believed it was unfair for firms to raise their prices because of an increase in demand.